Development Finance Today: "Hammerson secures £360m facility from 14-bank syndicate"
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"Commercial developer Hammerson has signed a £360m unsecured revolving credit facility (RCF) with a syndicate of 14 international banks.
"The new facility, which was secured at an initial margin of 90 basis points, has a maturity of five years – with an option to extend up to seven – and will refinance an existing £175m RCF maturing in April 2018.
"RBS [oh dear], Wells Fargo Bank, BNP Paribas, First Commercial Bank, IBC (London) and J.P Morgan served as mandated lead arrangers and bookrunners for the deal."